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Dollars on the Lightning Network: a boon for emerging markets?

Published 08/03/2022, 08:43 AM
Updated 08/03/2022, 10:20 AM
Dollars on the Lightning Network: a boon for emerging markets?
TWTR
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BTC/USD
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Dollars at the click of a button on the Lightning Network could soon become a reality. An innovation from Galoy, the provider of open source core banking platforms such as Bitcoin (BTC) Beach wallet, could provide safe haven from the volatility of BTC.

The innovation, called Stablesats, uses derivatives contracts to create a Bitcoin-backed synthetic dollar pegged to USD. The founder of Galoy, Nicolas Burtey, told Cointelegraph in an ‘explain like I’m five’ kind of way that the wallet works as so:

Nicolas Burtey (right) with Central Bankers explaining the Bitcoin Beach Wallet in May. Source: Twitter (NYSE:TWTR)

Continue Reading on Coin Telegraph

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